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Suntech Applies for Provisional Liquidation in Cayman Islands

Suntech Power Holdings Co Ltd, once the world's largest maker of solar panels, said it had filed an application for provisional liquidation in the Cayman Islands, where the New York-listed Chinese company is incorporated. Suntech also said it would consider pursuing a filing in the United States that would allow U.S. courts to recognize a foreign bankruptcy as the main proceeding and block creditors from seizing the company's U.S. assets. Suntech shares fell 14 percent ...

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